Fintech Stocks Slide On Reports Of UPI MDR Rollout Deferral

8 Oct 2026, 2:05 pm · 3h ago · 1 min read · Inc42New

Shares of leading fintech companies Paytm, Pine Labs, and MobiKwik declined after reports suggested the rollout of merchant discount rate (MDR) on select UPI payments could be delayed from October 15 to January 1, 2027. Paytm tumbled as much as 10% intraday, while MobiKwik and Pine Labs dropped 5.7% and 4.3% respectively. The NPCI-led steering committee is evaluating deferring MDR to keep merchant transactions fee-free through the festive season, alongside potentially raising exemption thresholds to merchants earning up to ₹40 lakh annually.